Leasing demand remains strong for small-to-mid sized industrial properties in New Jersey

Leasing volume by building size

Leasing volume by building for industrial buildings in New Jersey
  • Leasing remained strong in small-to-mid sized industrial buildings in the first quarter of 2025 as 69% of the leasing volume occurred in properties between 40k sf and 250k sf.
  • There was 5.5 msf of total leasing activity in Q1 2025, 3.5 msf below the 5-year Q1 average of 8.9 msf.
  • The 5.5 msf of leasing volume also equates to a 51.1% decrease from the 11.2 msf of leased space in Q4 2024.
  • Although demand remains strong, vacancy will continue to face upward pressure as a significant portion of properties currently under development deliver vacant.

May 15, 2025

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Jordan Katz

    • Analyst, Northeast Industrial, Market Intelligence
    • Industrial
    • Strategic Business Advisory
    • Market Intelligence

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